Posted by: maboulette | November 21, 2016

Summit of Asian-Pacific Leaders What They Are Thinking


apec

Several U.S. allies took aim at Trump’s views on global trade, while China’s president made a passionate call against the sort of protectionism that is favored by the president-elect.  This occurred at a summit of Asian-Pacific leaders on Saturday.

FORUM

The Asia-Pacific Economic Cooperation forum is taking place in Peru with world leaders on edge over Trump’s campaign pledges to protect U.S. jobs by backing out of the not-yet-implemented Trans-Pacific Partnership and renegotiating the North American Free Trade Agreement.

NIETO

Mexican President Enrique Pena Nieto said NAFTA aids workers and companies on either sides of the border. Still, he expressed uneasiness that the U.S. could be turning its back on a bilateral trade relationship accountable for moving $1 million worth of goods every minute.

MEXICO

“In the face of Trump’s positioning, we’re now in a stage of favoring dialogue as a way to build a new agenda in our bilateral relationship,” Pena Nieto told business leaders. “Mexico, like the entire world, is about to initiate a new stage with the U.S. and in commercial terms we want to give the right value to this strategic relationship between Mexico and the U.S.”

NEW ZEALAND

New Zealand’s Prime Minister John Key spoke more directly, saying the “tremendous despair” generated by Trump’s trade views can’t be allowed to slow down economic assimilation by the rest of the world.

FREE TRADE

“Even if the United States doesn’t want to engage in free trade, President Trump needs to know other countries do,” said Key.

SAVE

He said it’s still possible to save the 12-nation TPP negotiated by the Obama administration by introducing cosmetic changes making it satisfactory to Trump or carving out a less motivated pact among TPP signatories that leaves out the U.S.

ROLE

“I personally think that President Trump will be very much like chairman of the corporation Trump is,” he said. “He’s a flexible business guy. He’s going to realize he has a role to play.”

CHINA

Chinese President Xi Jinping sent perhaps the most-forceful defense of free trade, given the size of his economy. In his kick-off speech from Peru he said the best response to rising protectionism would be for APEC’s 21 members to negotiate a free trade area incorporating the entire Pacific Rim.

“Closed and inclusive arrangements are not the right choice,” Xi said, taking a veiled stab at the TPP, which excludes China and is widely seen as an attempt to reassert U.S. dominance in Asia. “Building a free trade area of the Asia-Pacific is a strategic initiative critical for long-term prosperity.”

Xi’s remarks came as Chinese state media blasted Trump for “trade-bashing” rhetoric that threatens global economic stability.

“The billionaire-turned-politician needs to prove that derailing the global economy has not been one of the reasons why he ran for U.S. president,” official Xinhua news agency said in a commentary piece published Saturday.

TOWN HALL

President Barack Obama warned against a rush to judgment on Trump, saying at a town hall on the margins of the summit that it’s too early to conclude that the new administration will wipe out trade deals and create international problems.

GIVE TRUMP A CHANCE

“Don’t just assume the worst,” he said. “Wait until the administration’s in place” before drawing conclusions.

 

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